Volvo Cars Singapore Achieved 38% Year-On-Year Growth In 2024
EVs accounted for 58% of total sales.
Volvo Cars Singapore reported a 38% year-on-year sales growth in 2024, with EVs comprising 58% of total sales. The EX30, launched in early 2024, became the brand’s best-seller and a segment leader (we rated it highly, too), alongside strong results from the EX40 and EC40 models.
"This exceptional growth in 2024 reflects the strong trust our customers have placed in Volvo as a leader in automotive safety and innovation," said Corinne Chua, Managing Director for Volvo at Wearnes. "The success of models like the EX30 and EX40 highlights our ability to meet the evolving preferences of Singaporean drivers who seek technology, safety, and sustainability in their vehicles. We remain committed to pushing boundaries and delivering premium electrified solutions that inspire confidence and contribute to the future of motoring in Singapore.”
Volvo’s 2024 sales growth in Singapore reflects its global electrification strategy, aiming for over 90% electrified vehicle sales. The EX30, recognised for its compact design and smallest carbon footprint in Volvo’s lineup, along with the EX40 and EC40, has driven local success.
Volvo Cars Singapore will expand its electrified lineup in 2025, with the upcoming launch of the EX90 EV SUV.
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